Saudi Arabia sees July oil exports hitting almost one-year low
Published by Alfred Hamer,
Editorial Assistant
Oilfield Technology,
The kingdom, the world’s second-largest oil producer, saw its crude exports fall by around 5.1% from 6.1 million bbl/d in June. Meanwhile, its production rose very slightly to 8.9 million bbl/d.
However, Saudi refineries' crude throughput fell slightly to 2.4 million bbl/d. The figures were released on Thursday from JODI, an international collaboration launched in 2001 to improve the reliability of oil and gas data. Offshore Technology recently reported that with just a few members exceeding their agreed limits, oil production from OPEC has remained constant for the third month in a row.
The intergovernmental body produced an average of just under 27 million bbl/d in June, some 80 000 bbl/d less than during the previous month. Offshore Technology reported a few day ago that China is likely to see a 7% monthly increase in Saudi Arabian oil imports in October as the kingdom cuts prices for Asian nations and refiners in China seek more of its crude.
According to several US media outlets, citing industry sources, the Saudi exports are set to reach just over 46 million bbl next month, up from 43 million bbl in September. China’s slight rise in imports follows Saudi Aramco dropping its official Asia selling price for its Arab Light crude, making imports more attractive.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/23092024/saudi-arabia-sees-july-oil-exports-hitting-almost-one-year-low/
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